Just saw a big news, I felt a chill on my back. Ethena secretly transferred 23,300,000 ENA 9 hours ago, worth 4.74 million dollars! This is obviously going to dump... Moreover, this wallet still hides 123,400,000 ENA, worth 25 million dollars. Brothers, this is not a small move, this is a big player preparing to exit!
News aspect
Do you know what this means? The project party is taking advantage of the rise to dump, this is not ecological construction, this is called cashing out to prepare for exit. In the past few months, I have seen too many similar scripts: pump up, big players run first, and in the end, it’s the retail investors who get stuck.
Technical analysis
Take a look at this 4-hour K-line chart; the price is climbing, but don't be fooled by appearances.
The key resistance level is at 0.215, strong resistance is at 0.245, and now the price is struggling below this.
Even though the MACD has a golden cross above water, remember that a golden cross does not necessarily mean a real rise; it could also be a trap to induce buying.
I have seen too many coins where a big bearish candle directly breaks through support after a golden cross, trapping many at the peak...
Do you think this golden cross is a real signal to take off, or is it a smokescreen for big players to sell at a high price?
My opinion
The current rise is likely just a wave of inducing buying to deceive people into entering and then harvesting; do not rush to enter now; you can continue to observe the market trend before considering entering with a light position. If you miss the opportunity, the bullets will be gone.
What should retail investors do?
Don't chase the rise: If you see ENA suddenly jump to around 0.215, hold back; it might be a trap.
Wait for a pullback: If it drops to around 0.19, you can try a small position to catch a rebound, but make sure to set a stop loss.
Watch the trend: If 0.19 can't hold, the next target is 0.16, then it will be the real bottom-fishing time.
I often say: Those who can buy are apprentices, those who can sell are masters, and those who can wait are the ancestors.
What you need to do now is not to rush into action but to observe the changes calmly.
If 0.16 really arrives, will you buy at the bottom or observe?
If you are also playing ENA or want to learn how to find opportunities in a bear market, feel free to follow me. In the chat room, I will teach you step by step how to escape the peak and catch the bottom. We not only trade coins but also trade mindset and strategy. Follow Hongcai, and together we will traverse the bull and bear markets.
Wealth does not enter through urgent doors; making money in the crypto space relies on understanding and patience, not shortcuts and luck! Follow Hongcai and participate in every attack! Hongcai will announce specific entry times and real-time messages in the chat room every day!#加密市场观察 $ENA
